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Top five retail marketing challenges in 2024

Published: October 15, 2024 by Experian Marketing Services

Strategies to overcome retail marketing challenges in 2024

The questions that keep retail marketers up at night have evolved significantly over the last decade. It wasn’t long ago that marketers would spend their time debating which highway to place their billboard on, whether or not their next TV commercial should be comical or heart-tugging, or even what the optimal time of day was to blast an email campaign to their entire customer list. In 2024, retail marketing has new challenges on the radar.

The rise of omnichannel retailing

The modern, digital-savvy customer expects a flawless and interconnected shopping experience across touchpoints — one of the many reasons omnichannel marketing is on the rise. Research shows that over half of B2C consumers engage with between three and five channels whenever they make a purchase. For businesses, omnichannel engagement is a lucrative opportunity; McKinsey reports that customers who engage across channels shop nearly twice as much as those using a single channel and usually spend more money.

However, the rise in omnichannel engagement also presents several retail marketing challenges, such as the complexity of managing vast amounts of data and piecing together an accurate picture of consumer behavior.

Data and identity-related retail marketing challenges

Today’s data-driven environment has turned the retail marketing landscape on its head, and businesses have a whole new set of struggles that revolve around identity and data. We identified the top five retail marketing challenges and how to solve them.

1. Knowing what data to capture

In the omnichannel era, online and offline data is abundant. When a customer shops at a physical store, they create data points like:

  • What items they purchased
  • What time they visited
  • How long they were there

When the same customer shops online, they create a whole new set of data points, such as:

  • What device they used
  • Which items they browsed but didn’t purchase
  • How long they spent on specific pages

The vast available data can overwhelm retailers and make it a challenge to determine which data points to prioritize. Start by identifying the challenge you’re addressing. By defining your problem, you can better decide which data is most relevant. For instance, if you’re optimizing the timing of incentives, analyze when customers shop most frequently and customize offers based on individual behavior patterns.

How Experian’s Activity Feed can help

Experian Activity Feed connects online and offline data to promote precise targeting and measurement across mobile, web, connected TV (CTV), and more. We provide addressable insights that work across all channels by integrating real-time device IDs, cookies, and IP addresses. Our case study with Cuebiq, found here, discusses how we used Activity Feed to deliver in-store lift analyses to Cuebiq’s clients.

Because our impressive breadth of addressable data works across channels, we’re perfectly positioned to be your comprehensive identity solution, as we’re capable of addressing the entire U.S. population. With access to over 250 behavioral and demographic attributes per individual, our data fills in audience gaps to help you create a complete customer profile.

2. Understanding customer behavior

The complexity of modern consumer behavior is growing, and one of the biggest retail marketing challenges is merging all this information into a single unified customer view. With consumers moving seamlessly between devices like tablets, mobile phones, and laptops, retailers face the grueling task of keeping up with their fragmented journey.

For instance, a customer may spot a pair of shoes in-store, add them to their cart via mobile due to long cashier lines, and finish the purchase later from their laptop. However, if they cannot be recognized across these touchpoints, they may abandon the purchase out of frustration. Retailers need solutions that link offline customer relationship management (CRM) and purchase data with a customer’s online activity, regardless of channel or device.

This is where Experian identity resolution and Graph come into play.

How Experian’s Graph and identity resolution can help

Experian’s identity solutions help brands resolve disparate data by merging fragmented identifiers into a singular customer profile for a 360-degree view. We ensure each touchpoint is connected, whether the interaction happens online or offline, across mobile apps, or in-store. This enables retailers to recognize the same customer across various devices and enhances the customer experience by keeping items in their cart and personalizing their journey across platforms.

With Experian’s identity graph, brands can further enrich these customer profiles with digital identifiers that span hashed emails (HEMs), cookies, mobile device IDs (MAIDs), IP addresses, universal IDs, and CTV IDs to create a more accurate, actionable view of consumer behavior. We rebuild the graph weekly, which ensures persistent and refreshed connections between households, individuals, and their devices. This ongoing linkage allows for precise targeting and measurement over time and aligns with privacy standards and compliance obligations.

By organizing identity into households and device IDs and enriching them with marketing data, brands can gain deeper customer insights, addressability across devices, and the ability to measure the impact of their retail marketing strategies.

3. Building trust between consumers and your brand

Trust is the foundation of online relationships, and consumers who trust your brand are likelier to share their data. To establish this trust, retailers must collect customer data transparently and respectfully.

According to Experian data, 80% of consumers believe more transparency around the use of their information fosters greater trust in a business. Additionally, the same data revealed that 56% of companies plan to invest more in transparency initiatives, such as consumer education, clearer terms of communication, and consumer control over personal data.

Experian’s commitment to data accuracy and transparency further strengthens this trust. Our data is ranked #1 in accuracy by Truthset, which means you can power smarter insights, targeting, and measurement using the highest-rated, most reliable data to build customer profiles.

4. Establishing customer loyalty with retail marketing

Today’s consumer has many opportunities and choices available at their fingertips, which makes it harder for retailers to build and maintain customer loyalty. Signal loss and the rise of omnichannel media consumption have made it even more of a challenge to keep loyal customers.

By using data and insights to interact with people more meaningfully, you can overcome these difficulties to provide a more personalized, relevant experience and establish loyalty. Experian’s new Digital Graph and Marketing Attributes solution makes it easier to do just that.

Experian’s Digital Graph and Marketing Attributes solution

Using our Digital Graph and Marketing Attributes, you can gain comprehensive insights into consumer behavior by combining offline and digital data through our Living Unit ID (LUID). Our Digital Graph provides robust digital identifiers like MAIDs, CTV IDs, HEMs, and universal IDs, while our Marketing Attributes offer detailed consumer insights spanning age, gender, purchase behaviors, and content consumption habits. With this data, you can create relevant messaging and informed audience segmentation to enhance your personalization and targeting efforts across all digital channels.

Using our solution can help you deliver what customers need when they need it — like winter gear before a ski trip or swimwear before a beach vacation. These personalized experiences drive additional revenue and build lasting relationships that keep customers coming back, establishing a strong foundation of loyalty in an increasingly competitive market.

5. Finding your technology solution

Retailers need to integrate technology to make their data actionable and use it to streamline the customer experience. They need to integrate data storage platforms with fulfillment and reporting solutions, such as email service providers, display networks, and marketing intelligence tools. Whether retailers are exploring the industry or gearing up to make a substantial investment in the right technology partner, it’s vital to ensure you evaluate potential partners equally and consistently.

Experian works with major platforms, marketers, and agencies, meaning we have existing partnerships across the ecosystem for you to connect with that can bring your consumer data to life and meet your needs. Our offline and digital graphs are baked into partner integrations so customers can achieve higher match rates that improve addressability.

Strategies to help you overcome retail marketing challenges

When it comes to modern retail marketing, you’ll need to take a strategic approach to handle emerging challenges. Here are five retail trends of 2024 to consider integrating into your retail marketing strategy:

  1. Use predictive analytics: Data can be overwhelming, but you can analyze historical purchase patterns to capture and prioritize the most relevant data for your retail marketing efforts.
  2. Optimize omnichannel campaigns: Cross-channel data integration can help you ensure consistent messaging, provide a seamless experience, capture a unified view of customer interactions, and improve engagement.
  3. Personalize experiences with AI: Utilize AI data capture across touchpoints to create personalized recommendations and tailored experiences that resonate with individual customer preferences and behaviors.
  4. Adopt dynamic pricing: Use real-time data to adjust prices based on customer behavior and market conditions so your pricing strategies align with current demand and maximize revenue.
  5. Invest in customer experience tech: Virtual fitting rooms, augmented reality, and other advanced technologies allow customers to engage with your brand across platforms, which can improve their shopping experience.

Utilize Experian’s retail media network (RMN) solution

Experian’s solution for RMNs is another tool for overcoming retail marketing challenges. We empower RMNs to better understand their customers with unified views of online and offline behavior across channels and extend their reach across environments.

Using our top-ranked identity and audience services, we can help RMNs access expanded customer insights, enhance cross-channel audience targeting, and improve real-time measurement and attribution to enable precise, streamlined, personalized omnichannel campaigns. Our solution’s integration with major platforms improves data match rates and addressability so retailers can overcome data fragmentation and optimize their retail marketing strategies.

Experian can help advance your retail marketing strategies

Experian can help retailers effectively use data and insights to interact with customers and prospects meaningfully. Our data and identity solutions help you deliver relevant, impactful messaging to ensure the customer who puts shoes in the cart at the store is the same customer who wants to finalize their transaction later that evening online.

As the holiday season approaches, it’s time to refine your retail marketing strategies and connect authentically with shoppers. With over a billion consumers preparing to shop, Experian offers 19 new syndicated audiences available for activation across major ad platforms, including TV and programmatic, to help you reach the most relevant prospects. Whether you’re targeting discount seekers, last-minute gift-buyers, or frequent travelers, our audiences align with diverse shopping styles and preferences. Choosing the right audience segments aligns your holiday marketing efforts with consumer expectations and maximizes impact.

With our tools, you can seamlessly connect with the same customer across various channels, whether they’re shopping in-store or online. Embrace the holiday season confidently, and let Experian help your retail marketing strategy shine.


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Navigating the multi-ID landscape

Originally appeared on MediaPost As the digital ecosystem becomes more complex, managing multiple identifiers for consumers has emerged as a significant challenge. From cookies and IP addresses to mobile IDs and universal IDs, marketers and platforms face increasing difficulty in maintaining a unified view of their consumers. Without a coherent identity strategy, campaigns can suffer from poor targeting, limited personalization, and flawed attribution. Experian understands these challenges and offers solutions to help our partners navigate the complexities of a multi-ID landscape. By utilizing both digital and offline data, we provide the tools to unify fragmented identifiers and maintain a persistent view of consumers. As a result, marketers and platforms get rich insights, accurate cross-device targeting, improved addressability, and measurable advertising. The shifting identity landscape For years, the industry has relied on cookies to identify consumers across devices and platforms. However, with ongoing signal loss, including the uncertainty around cookies, and the evolution of privacy regulations, the digital identity landscape has grown more complicated. As consumers hop from one device to another, they are now represented by multiple signals, each tied to a different aspect of their digital behavior. While this shift brings complexity, it also opens the door for innovation. Marketers and ad platforms now have the opportunity to rethink their identity strategies and adopt more flexible approaches that are not reliant on a single identifier. This is where Experian comes in. Connecting the dots: A holistic view of the customer journey Our identity solutions are designed to help manage today’s multi-ID ecosystem by connecting digital and offline identifiers to a single customer profile. This creates a unified view of the consumer, and when combined with our understanding of customer behavior (e.g. demo, interests, shopping patterns) marketers and platforms get both insights about their customers and the addressability to reach them across channels. Four examples of what you can do with a strong identity foundation If an advertiser wants to make its first-party data more addressable, it can utilize our Digital Graph with universal IDs, hashed emails (HEMs), and connected TV (CTV) IDs to extend its reach. A publisher who wants to gain further insights into their audiences and create private marketplaces (PMPs) can achieve this goal with the use of our Digital Graph with hashed emails, universal IDs, mobile ad IDs (MAIDs), CTV IDs, and IPs. The publisher can use this in concert with Marketing Attributes to understand age, gender, household income, buying behavior, and more. The publisher can connect marketing attributes to the Digital Graph via our Living Unit ID (LUID) to understand more about consumers that fall into their segments. A demand-side platform (DSP) who wants to extend first-party and third-party audience reach across all digital devices on their platform will use the Digital Graph with all digital IDs to allow users of their platform to select cross-device extension against first-party and third-party audiences. A retail media network (RMN) can use our Offline and Digital Graphs to connect in-store and online purchases to a household profile—even when purchases are made by different people. The RMN can then reach that household across digital media platforms and accurately attribute the in-store purchase back to digital ad exposure.  Identity as a strategic asset: Today and in the future In our paradoxical world where consumers are represented by multiple identifiers, yet marketers and platforms face signal loss, identity is more than a technical issue—it’s a strategic asset. The ability to unify identity data into a single profile provides marketers with the customer intelligence needed to drive growth and stay competitive. Here’s how we do it: Deep, persistent customer understanding: With roots in offline, deterministic data like names, addresses, and emails, we provide an accurate and persistent view of identity to our customers. This allows you to maintain a consistent and comprehensive understanding of your customers and their marketing attributes over time. Highly accurate and refreshed digital identities: Our signal-agnostic graph is not reliant on any one signal as it includes HEMs, cookies, MAIDs, IPs, Universal IDs, and CTV IDs. Our Digital Graph is updated weekly, ensuring the data is always fresh and addressable. This persistent linkage of individuals and households to their identifiers and devices means your campaigns are always targeting the right people. Connected offline and digital graphs for holistic insights: We connect offline and digital identities by following privacy-first best practices, such as preventing re-identification, to allow insights from the offline world to be used in the online world. This integrated approach, enriched with marketing data, gives you better insights, more addressable advertising, and the ability to engage customers across multiple devices while accurately measuring campaign impact. Transform challenges into opportunities The rise of the multi-ID landscape presents both challenges and opportunities for the advertising industry. We stand as the trusted partner to navigate this complexity, utilizing insights from the offline world to inform decisions in the online world, enabling personalized marketing and accurate attribution, and helping you achieve your current and future goals. Get started today Latest posts

Nov 14,2024 by Budi Tanzi

Hedged gardens: The future of advertising

The concept of the "hedged garden" is gaining traction in the AdTech space as a promising new approach. It offers a more controlled and protected environment for advertisers, reshaping how digital advertising operates. But what exactly is a hedged garden, and could it be the solution we've been looking for?  Let's dive into the details and explore its implications. Walled gardens vs. the open web Walled gardens continue to disrupt the advertising industry to stay relevant. Google, Meta (Facebook), and Amazon, the largest walled gardens, offer consumer privacy and rich first-party data to advertisers. But, time spent within these platforms, Google and Meta specifically, continues to decrease. Open web: Pros and cons On the other hand, the open web allows for more transparency, scale, and constant diversification. Yet, this has not led to increased spending. As a result, the open web continues to lag behind walled gardens. With a heavy reliance on third-party data and growing concerns over signal loss, the open web faces significant challenges. Under these circumstances, advertisers turn to easy activation channels like walled gardens, even as they become less effective to marketers.  Consumers are increasingly focused on privacy, pushing the industry toward alternatives to third-party cookies. As Google rethinks its cookie deprecation plans, channels like connected TV (CTV) and mobile apps, which don't rely on cookies, are gaining traction.  “A significant portion of web traffic does not support cookies today — and that number will grow as Google rolls out [its] new solution. This means that the industry shouldn't slow down investments in cookieless solutions, including alternative IDs, first-party data and data-driven contextual targeting.”kimberly gilberti, general manager, experian This shift emphasizes first-party data and user choice as a potential solution that balances privacy with effective advertising sources. Enter the hedged garden So, what is a hedged garden? The “hedged garden” is a new industry concept where a network of publishers works together to activate first-party data sets in a privacy-compliant way across many partners at scale. These publishers run their businesses with large amounts of first-party consumer data. But they are not big enough on their own. What does a hedged garden look like? Hedges are more permeable and not as tall as walls. This idea is key to the success of the hedged garden. Data protection and privacy regulations As hedged gardens grow, staying compliant with privacy laws like the General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA) is vital. These rules focus on protecting user data by requiring clear consent and transparency. Hedged gardens help publishers share first-party data in a safe, privacy-compliant way.  By working together, they ensure data is used responsibly, aligning with strict privacy regulations. This not only keeps marketers compliant but also builds trust with consumers at a time when data protection is more important than ever. Opportunities for marketers in hedged gardens Hedged gardens offer unique opportunities for marketers to enhance their strategies. Unlike walled gardens, hedged gardens offer the ability to work with a wider array of data sources and provide more diverse insights into audience behavior. This flexibility lets marketers develop more tailored, cross-platform campaigns that reach users in different ways.  Additionally, hedge gardens encourage collaboration with multiple partners, allowing for new partnerships and innovative strategies. With data from several sources, marketers can create more precise and privacy-compliant targeting methods to deliver better results. With the right approach, hedged gardens give marketers the freedom to break away from restrictive ecosystems and drive creative and impactful growth.  How Experian navigates through hedged gardens As our ecosystem moves toward a hedged garden solution, how do we get involved? We are already a key ingredient for this type of solution within the TV landscape. Below, we walk through how we partner with one of our current TV media clients.   Organize our client’s data and provide a Living Unit ID (LUID) First, we work with our client to clean and enhance their data, matching individual personal identifiable information (PII), such as an email address, to a household through a LUID. Our Digital Graph, which includes hashed emails (HEMs), cookies, mobile ad IDs (MAIDs), IPs, universal IDs, and CTV IDs, is rebuilt weekly to create accurate, refreshed connections. This consistent linkage creates precise targeting and measurement over time.  Our interconnected Offline and Digital Graphs organize identity into households and devices, enriched with marketing data for deeper insights and better addressability. With partnerships across major platforms, we improve match rates, helping you activate audiences seamlessly for optimal reach and measurement.  Enrich data through Experian Marketing Data Next, our TV media client licenses our Marketing Attributes. This data is the most comprehensive resource for both traditional and digital marketing campaigns. With its multi-channel availability and addressable capabilities, our Marketing Attributes allow our clients to develop insights and build audiences based on a wide range of attributes within their segment set, ensuring they reach relevant audiences across all channels. Activate audiences across the ecosystem Finally, we help our client execute their audiences across the full digital and TV ecosystem. We enable the connection that allows these audiences to be activated by matching partner LUIDs (example: LUID123 =  LUIDABC). By using client-specific LUIDs to match up data in a privacy-first manner, we can continue to build strong partnerships within the fast-growing ecosystem. Are hedged gardens the future of advertising? Have we found the perfect bridge between walled gardens and the open web? We’re hedging our bets. Our vote is yes, but only time will tell.  The future of advertising is shifting, and hedged gardens appear to be a promising model that balances the scale of walled gardens with the flexibility of the open web. We’re using what we learned from the TV industry to support other hedged garden verticals (retail media networks, audio, and gaming). Now that we know what a hedged garden is, we should consider what the future holds for both walled and hedged gardens.  What’s next for walled gardens  Increased privacy regulations: Walled gardens will face stricter regulations on data use, pushing them to adapt for compliance and trust. Reduced market dominance: As advertisers want more control, reliance on walled gardens could decline, shifting focus to hedged gardens. Diversified ad spend: Brands may spread their budgets across multiple platforms instead of being locked into walled gardens. The future of hedged gardens  Greater industry collaboration: Expect more publishers and platforms to join forces in hedged gardens for better data activation. Expansion into new channels: Hedged gardens will expand into emerging channels like gaming and connected devices. Improved data integration: Privacy-first data sharing in hedged gardens will lead to smoother, more secure ad targeting. Data collaboration in a post-cookie world As signal loss becomes a growing concern, the need for secure, privacy-first data collaboration will rise. Hedged gardens offer a pathway forward, allowing advertisers to activate first-party data across multiple partners while complying with data regulations.  This is where Experian Collaboration shines. By enabling data sharing without exposing raw consumer data, clients and partners can collaborate at Experian in their own environment or in clean rooms. Each of these environments allows partners to exchange data and gain insights without compromising privacy. Maximize your advertising reach with Experian As the advertising landscape changes, one thing remains clear: successful campaigns will require flexible, privacy-first solutions. At Experian, we are at the forefront of this shift. With our data expertise and advanced collaboration solutions, we’re here to help you navigate through both walled and hedged gardens to maximize your advertising reach. Together, we can navigate across the walled and hedged garden ecosystems. Contact us to learn how. Contact us today Latest posts

Nov 12,2024 by Experian Marketing Services

Adapting to life without Oracle

Originally appeared on Adweek The advertising industry is experiencing a significant shift resulting from Oracle's market exit. Over the years, Oracle’s advertising tools—built through key acquisitions like Crosswise, BlueKai, Datalogix, and Grapeshot—have become essential for many marketers, data providers, and platforms. With Oracle’s departure, stakeholders are left searching for reliable alternatives to maintain their data-driven strategies. While this transition may seem daunting, it presents a unique opportunity to reassess audience and identity solutions. With the growing importance of adaptability and interoperability, now is the perfect time for advertisers, agencies, publishers, and platforms to adopt future-focused strategies. Oracle’s legacy: A combination of acquisitions Oracle’s advertising business wasn’t a unified solution but a collection of acquired technologies. Crosswise provided a cross-device identity graph; BlueKai offered a robust data management platform (DMP); Datalogix specialized in offline purchase data; and Grapeshot was known for its contextual targeting. Together, these tools powered a comprehensive offering for advertisers, data providers, and platforms. Yet, much of Oracle’s advertising success stemmed from the external data it used. For example, many of Oracle’s automotive audiences relied heavily on third-party data, largely powered by Experian data. This means that while Oracle may no longer be an option, many of the services marketers depended on through Oracle are still available from Experian, ensuring continuity. What this means for advertisers and agencies For advertisers and agencies, Oracle’s exit means losing access to its syndicated audiences. Fortunately, this doesn’t have to cause a major disruption. As one of Oracle’s primary data providers, we've mapped Oracle’s audiences to our own, ensuring marketers can easily maintain their targeting strategies without losing performance or efficiency. With access to over 2,400 syndicated audiences across key verticals such as demographics, automotive, retail purchases, or financial data, advertisers can continue their campaigns with confidence and precision. What sets us apart? Powered by data ranked #1 in accuracy by Truthset, our audiences are built on reliable, offline, deterministic data — like name, address, phone number, and email. This means advertisers can be confident that they are reaching the right audiences across all channels. With our audiences available across 30+ ad platforms, including programmatic, TV, and social media, advertisers and agencies have easy access to keep their campaigns running. For advertisers that ran audience targeting using Grapeshot's Contextual Platform, our new Contextually-Indexed Audiences are a replacement built for the evolving digital media landscape. By combining the precision of audience targeting with the flexibility of contextual targeting, marketers get a privacy-safe, yet scalable way to target audiences that is not reliant on cookies or other user identifiers. Marketers can activate these audiences through leading demand-side platforms (DSPs) or through Audigent private marketplaces (PMPs).   A new opportunity for data providers Oracle’s marketplace has long been a crucial distribution channel for third-party data providers, particularly through BlueKai. With its closure, providers have an opportunity to explore new onboarding services and marketplaces that offer similar or even better reach and effectiveness. New alternative onboarding solutions are emerging, particularly in areas like TV and digital, ensuring that the loss of Oracle’s services does not leave a significant gap. These solutions are being built to overcome the challenges typically present with data onboarding — complicated integration processes, limited ID matching capabilities, and opaque pricing structures. One such solution is Experian’s new Third-Party Onboarding.  What sets us apart? With our digital and offline identity capabilities embedded within this solution, data providers receive superior programmatic and connected TV (CTV) reach and addressability compared to the competition. The first data providers – Adentro, Kontext, L2, and Webbula – are already using this solution to increase the adoption of their audiences and maximize their revenue. Additionally, new marketplaces are emerging that aim to fill the void left by Oracle, offering distribution to key destinations and providing data providers with continued access to advertisers who require high-quality, third-party data. Platforms shift to new audience solutions Platforms that relied on Oracle for third-party data and audience onboarding are now facing challenges in maintaining their ability to target specific audiences. This could affect their inventory's attractiveness to buyers. However, we offer a seamless solution for platforms looking to replace Oracle’s capabilities. As one of Oracle’s primary data providers, we've already mapped Oracle’s audiences to our catalog of over 2,400 syndicated audiences. Platforms can continue providing precise audience targeting and ensure advertisers receive the performance that they demand. Additionally, Third-Party Onboarding builds upon the investment and infrastructure used to distribute our own audience segments, providing platforms with audiences from leading third-party data providers.  Moving forward: Embracing connectivity We're dedicated to powering data-driven advertising through connectivity. With best-in-class syndicated audiences, new Contextually-Indexed Audiences, and an easy-to-use Third-Party Onboarding solution, we're enabling advertisers, agencies, data providers, and ad platforms to improve their marketing operations. Oracle’s departure marks the end of one era, but it also opens the door to a future where collaboration, interoperability, and connectivity define the landscape. By choosing partners like us, advertisers, agencies, and platforms can ensure they remain agile, innovative, and well-equipped to thrive in this new era of data-driven marketing. Connect with us Reach out to your account representative or our audience team for information about our comprehensive audience mapping and finding the right audiences for your campaigns. Download our audience lookbook to discover more about Experian’s audiences. Latest posts

Nov 07,2024 by Scott Kozub

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